[aspiring_73]

...options? Is it better to sell house on short sale or to be foreclosed on? The only way I can afford to keep our house is if we can get a loan for what it's currently worth or maybe at a lower interest rate... substantially lower. (is something like that possible at the moment? I doubt it or else everyone would be able to keep their houses) Our interest is fixed at about 5.8% but the loan was for $244,000.00 and we cannot afford a monthly mortgage of $1,668.36 I make about $400 weekly and husband's without work. When we bought the house I wasn't well enough informed about how much taxes would bring up the monthly payment each year we're up $30.00 more per month. If we are foreclosed on will we owe the difference between the amount they sell the house for and the amount we bought the house for? A co-worker told me that's how it works.